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Oct 3, 2013
10/13
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-- will prevent a deal to raise the debt ceiling. done, the united states will default in its debt. >> the ongoing political uncertainty over the budget, over the debt ceiling does not help. the government shutdown is that enough but failure to raise the debt ceiling would be far worse. and could very sears the damage that only the u.s. economy -- very seriously damage not only the u.s. economy, but the global economy. >> while congress continues to there is onending, country caching in. >> republican opposition to obama care is at the heart of the government shutdown. museums, memorials, parks and zoos have been forced to shut their doors. india.ning new doors in the indian generic medicine industry is gearing up for a huge boost of demand in the u.s.. nearly 40% of the drugs used in the u.s. comes from india and it is going to get bigger. >> we see a tectonic change in generic consumption and pharmaceuticals that will happen in the united states. being a big provider of that kind of product to the world, india stands to gain signif
-- will prevent a deal to raise the debt ceiling. done, the united states will default in its debt. >> the ongoing political uncertainty over the budget, over the debt ceiling does not help. the government shutdown is that enough but failure to raise the debt ceiling would be far worse. and could very sears the damage that only the u.s. economy -- very seriously damage not only the u.s. economy, but the global economy. >> while congress continues to there is onending, country...
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Oct 2, 2013
10/13
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>> applying pressure, wall street ceo, failure to raise the debt ceiling would lead to extremely adverse consequences. >> big changes coming to the health care system and we ask one of the nation's top hospital ceo's who he is doing to prepare. that and more. >>> good evening everybody. i'm bill griffin in for tyler mathisen. >> i'm susie gharib, good evening everyone. on day two of the government shutdown, president obama talking tough and acting tough. he called together the leadership of chambers of congress to find a solution and get the government up and running again and he met with a group of powerful bank ceos to discuss the risks of the financial system and in an exclusive interview, the president singled out what he called a small faction of the republican party and says he's willing to negotiate after the government is open for business again. john harwood sat down with the president today and joins us now from the white house. john, over to you, what happened? >> reporter: one of the things confusing to people is what exactly is the president willing to negotiate on and when?
>> applying pressure, wall street ceo, failure to raise the debt ceiling would lead to extremely adverse consequences. >> big changes coming to the health care system and we ask one of the nation's top hospital ceo's who he is doing to prepare. that and more. >>> good evening everybody. i'm bill griffin in for tyler mathisen. >> i'm susie gharib, good evening everyone. on day two of the government shutdown, president obama talking tough and acting tough. he called...
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May 4, 2011
05/11
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raising that debt limit is the biggest battle in washington these days. a key meeting is set for tomorrow with vice president joe biden. as darren gersh reports, topping the agenda will be finding some way to enforce budget discipline. >> reporter: with less than three months to go before the nation hits the debt ceiling and faces default, policy makers say an agreement may hinge on finding some kind of budgetary trigger mechanism. that trigger would force automatic cuts in the federal budget if deficit reduction goals aren't met. finance committee chairman max baucus says a mechanism like that will be on the agenda for tomorrow's meeting with the vice president. >> whether there will be one, i don't know. what its composition will be, i don't know. there are a wide range of ideas on what it should be, but i suspect that's going to be very high on the list of subjects that we are going to talk about. >> reporter: the president is calling for limits on how fast the national debt can grow. if it tops his goal, automatic spending cuts and tax increases would
raising that debt limit is the biggest battle in washington these days. a key meeting is set for tomorrow with vice president joe biden. as darren gersh reports, topping the agenda will be finding some way to enforce budget discipline. >> reporter: with less than three months to go before the nation hits the debt ceiling and faces default, policy makers say an agreement may hinge on finding some kind of budgetary trigger mechanism. that trigger would force automatic cuts in the federal...
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Jul 30, 2011
07/11
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debt ceiling. you have achieved that. there is no way you can achieve more holding only one house of the congress. take it. otherwise, the republican chances in 2012 are going to be deeply damaged, and that is the only way, next year's election in which republicans can really change the structure and the ideological trajectory of the country. >> the media focus for the past few days has been on boehner's problems with freshmen house members who refused to budge, but political reports have been named senior policy officials as saying this point, we may win on politics, but the policy battle is lost. do you agree? >> yes. the move has been totally to the republican position. the fact that we had a banner plan that is the centerpiece of deficit reduction that continues to tax a firefighter in new york and an emergency room nurse at twice the rate of a hedge fund manager, and nobody objects to it in any way, and to do so would be the third rule of politics. no revenues. the biggest element in our defic
debt ceiling. you have achieved that. there is no way you can achieve more holding only one house of the congress. take it. otherwise, the republican chances in 2012 are going to be deeply damaged, and that is the only way, next year's election in which republicans can really change the structure and the ideological trajectory of the country. >> the media focus for the past few days has been on boehner's problems with freshmen house members who refused to budge, but political reports have...
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Jul 30, 2011
07/11
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debt ceiling. you have achieved that. there is no way you can achieve more holding only one house of the congress. take it. otherwise, the republican chances in 2012 are going to be deeply damaged, and that is the only way, next year's election in which republicans can really change the structure and the ideological trajectory of the country. >> the media focus for the past few days has been on boehner's problems with freshmen house members who refused to budge, but political reports have been named senior policy officials as saying this point, we may win on politics, but the policy battle is lost. do you agree? >> yes. the move has been totally to the republican position. the fact that we had a banner plan that is the centerpiece of deficit reduction that continues to tax a firefighter in new york and an emergency room nurse at twice the rate of a hedge fund manager, and nobody objects to it in any way, and to do so would be the third rule of politics. no revenues. the biggest element in our defic
debt ceiling. you have achieved that. there is no way you can achieve more holding only one house of the congress. take it. otherwise, the republican chances in 2012 are going to be deeply damaged, and that is the only way, next year's election in which republicans can really change the structure and the ideological trajectory of the country. >> the media focus for the past few days has been on boehner's problems with freshmen house members who refused to budge, but political reports have...
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Jul 25, 2011
07/11
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a number of us freshmen ran on the platform that we would never raise the debt ceiling. we voted last week to raise the debt ceiling and all we wanted in exchange for that was real spending cuts, real spending caps, and a balanced budget amendment to our constitution. and all -- this is something that the american people support and we're asking the senate to take it on and debate it. it's the only plan out there right now, jane, that's literally passed out of congress. >> there's certainly no shortage of plans but isn't this now less about economics and more about politics? >> no, i think it's all about -- it's all about economics. it's about the fact that this country is falling off a financial cliff. we are bankrupting future generations. and for any of us to add another dollar on to the backs of our kids and grandkids, we're going to make sure we never get to this point again and our president needs to understand that. >> so, do you think that you can reach a deal even at this late hour? >> look, i think the sides are going to come together and arrive at a solution.
a number of us freshmen ran on the platform that we would never raise the debt ceiling. we voted last week to raise the debt ceiling and all we wanted in exchange for that was real spending cuts, real spending caps, and a balanced budget amendment to our constitution. and all -- this is something that the american people support and we're asking the senate to take it on and debate it. it's the only plan out there right now, jane, that's literally passed out of congress. >> there's...
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Aug 2, 2011
08/11
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the debt ceiling. it's likely the raising of the debt ceiling for both businesses and consumers hash unsettling, and just one more impediment to the full recovery that we need. so let's take a closer look at some of that uncertainty. what will deficit reduction mean for defense companies and communities that rely on defense spending? darren gersh looks at the size and scope of those cuts, and finds different answers. >> reporter: depending on how you look at it, defense spending will either be frozen for the next couple years, or it will be slashed dramatically, or it will go up. let's look at the cuts first. next year and the year after defense spending, not including afghanistan and iraq, is essentially frozen, give or take a few billion dollars, at $530 billion. that would require the pentagon to trim some spending, not a hard thing to do. >> instead of building two submarines a year, i build one. that's $2.5 billion right there. >> reporter: now you may have heard defense spending will be cut by $3
the debt ceiling. it's likely the raising of the debt ceiling for both businesses and consumers hash unsettling, and just one more impediment to the full recovery that we need. so let's take a closer look at some of that uncertainty. what will deficit reduction mean for defense companies and communities that rely on defense spending? darren gersh looks at the size and scope of those cuts, and finds different answers. >> reporter: depending on how you look at it, defense spending will...
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Jul 27, 2011
07/11
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stocks on wall street slid as a deal on raising the debt ceiling remained elusive. and, the taliban claimed responsibility for assassinating the mayor kandahar in a suicide bombing. >> brown: and that's the "newshour" for tonight. on thursday, we'll have an interview with christine lagarde, the new head of the international monetary fund. i'm jeffrey brown. >> ifill: and i'm gwen ifill.u he here tomoow evening. gain a thank yound good nit.mo major funding for the pbs newshour has been provided by: and the william and flora hewlett foundation, working to solve social and environmental problems at home and around the world. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. captioning sponsored by macneil/lehrer productions captioned by media access group at wgbh access.wgbh.org vo:geico, committed to providing service to its auto insurance customers for over 70 years. more information on auto ins
stocks on wall street slid as a deal on raising the debt ceiling remained elusive. and, the taliban claimed responsibility for assassinating the mayor kandahar in a suicide bombing. >> brown: and that's the "newshour" for tonight. on thursday, we'll have an interview with christine lagarde, the new head of the international monetary fund. i'm jeffrey brown. >> ifill: and i'm gwen ifill.u he here tomoow evening. gain a thank yound good nit.mo major funding for the pbs...
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Jan 19, 2013
01/13
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there was a different attitude, and we have raise the debt ceiling 70-plus times, the congress has voted to do it, and there has always been that sense of we are not going to vote to raise the other guys debt ceiling, but there was always the understanding that we would provide the votes in the final analysis. the president's party did that. right now you have a situation where the republican party is reduced to its lowest standing in the history of the wall street journal nbc pulled to 23% favorable, 47% unfavorable. the only thing that is worse is john boehner. 18% favorable. this is not a formidable partner. >> over the weekend, politico reported that a lot of house republicans threaten to shut down the government. they need to make shut down in or to get out of the system. we may need to do that for member-management purposes so that they can have an end game and show their constituents they are fighting to get it out of the system? this is not a gastrointestinal problem, this is the government. >> i would suggest therapy and not shutting down the government here that would be the co
there was a different attitude, and we have raise the debt ceiling 70-plus times, the congress has voted to do it, and there has always been that sense of we are not going to vote to raise the other guys debt ceiling, but there was always the understanding that we would provide the votes in the final analysis. the president's party did that. right now you have a situation where the republican party is reduced to its lowest standing in the history of the wall street journal nbc pulled to 23%...
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Jul 3, 2012
07/12
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ceiling was raised congress demanded certain tax increases and spending cuts, if that happens the imf says that that will be too sharp of a hit to the economy. >> you mean they want sensible behavior from american politicians? thank you, john. >> can you believe that? [laughter] >> they you very much. >> pleasure. >> today the obama administration announced that pakistan is reopening its vital supply line into pakistan, the decision comes after pakistani troops were killed in a nato airstrike, prompting the closure and opening a major rift with the united states. then they formally apologized for the strike and the pakistani is reversed course. >> park and i go, this has been the picture since last november, convoys bound for afghanistan at a standstill. vitally needed supplies going nowhere. now the traffic starts moving again thanks to one long awaited word from washington -- sorry. the u.s. apologize for the killing of 24 pakistani troops in air strikes near the afghan border. hillary clinton called the pakistani foreign minister to say sorry for the losses suffered by the pakistan
ceiling was raised congress demanded certain tax increases and spending cuts, if that happens the imf says that that will be too sharp of a hit to the economy. >> you mean they want sensible behavior from american politicians? thank you, john. >> can you believe that? [laughter] >> they you very much. >> pleasure. >> today the obama administration announced that pakistan is reopening its vital supply line into pakistan, the decision comes after pakistani troops...
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Jan 8, 2011
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what about refusal to raise the debt ceiling? is that going to -- >> date will muddle through somehow, but they will fix it -- the united states is not going to go out of business. >> will what happened if they didn't. -- what will happen if they didn't? >> it is a hypothetical -- >> this is what europe is tying itself into a pretzel trying to avoid. wall street, industry -- they cannot have that happen. they are a part of the republican constituency, too. >> not going to happen. >> it is not, for that reason -- >> you just heard west say i would like to hold off until i see -- he is a pretty radical right guy on these things, so if he is saying that all i want is leverage, he is speaking for the republicans on this. >> let me be the lone voice of dissent. every republican sitting up there, and more than a few democrats, are terrified of one thing, a tea party challenge in 2012. that is why mitch mcconnell, circumspect, careful in speech, said it the most important thing he is going to do in the next two years is defeat barack ob
what about refusal to raise the debt ceiling? is that going to -- >> date will muddle through somehow, but they will fix it -- the united states is not going to go out of business. >> will what happened if they didn't. -- what will happen if they didn't? >> it is a hypothetical -- >> this is what europe is tying itself into a pretzel trying to avoid. wall street, industry -- they cannot have that happen. they are a part of the republican constituency, too. >> not...
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Jul 29, 2011
07/11
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has been raising its debt ceiling without much fuss. when reagan became president it stood at almost $1 trillion, 18 increases, $2.8 trillion. in the clinton years the limit was $6 trillion. seven more increases, george bush raised it to $11 trillion, under obama it has gone up three times to $14 trillion. the difference, a new driving force has arrived in washington. tea party backed republicans who won't vote for any deal that allows america to borrow more. they say when you are in debt, you change your diet. >> you start eating chicken, hamburger and hotdogs. we must do the things that is absolutely necessary. >> in washington americans seem frustrated this is taking so long. >> totally disgusted. i hope that president obama enacts the 14th amendment and overrides all these idiots. >> unfortunate they are putting the united states at risk in order to carry out their own personal agenda. so, yeah, i'm pretty fed up. >> the american people may despair of their politicians' brink manship, but they expect a deal to be done even at the la
has been raising its debt ceiling without much fuss. when reagan became president it stood at almost $1 trillion, 18 increases, $2.8 trillion. in the clinton years the limit was $6 trillion. seven more increases, george bush raised it to $11 trillion, under obama it has gone up three times to $14 trillion. the difference, a new driving force has arrived in washington. tea party backed republicans who won't vote for any deal that allows america to borrow more. they say when you are in debt, you...
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Jul 5, 2011
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the debt ceiling. with the clock ticking, our economics editor assesses just what is at stake. >> this was supposed to be the start of america's summer holiday -- the independence day weekend. but not this year, not for the politicians. they still have to find a way from preventing the world's richest economy from defaulting from its -- defaulting on its debt in a few weeks' time. tonight, the president told to stop messing around. >> it is my hope that everyone will leave their ultimatums at the door and we will all leave the political rhetoric at the door and we will do what's best for our economy and do what's best for our people. i want to emphasize -- i said this at my press conference -- this should not come down to the last second. >> the current limit on the federal debt was set last year at $14.3 trillion. with more than $100 billion in new borrowing agreement, the government will hit that ceiling at the start of august. but republicans will not let the a destruction borrow more without massiv
the debt ceiling. with the clock ticking, our economics editor assesses just what is at stake. >> this was supposed to be the start of america's summer holiday -- the independence day weekend. but not this year, not for the politicians. they still have to find a way from preventing the world's richest economy from defaulting from its -- defaulting on its debt in a few weeks' time. tonight, the president told to stop messing around. >> it is my hope that everyone will leave their...
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Oct 19, 2013
10/13
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gwen: the debt ceiling is raised. some republicans and some democrats are actually talking one another. >> we're going to find the two -- the common ground between that we both can vote on and that's our goal. gwen: but has the latest crisis permanentlyton broken? >> let's be clear. there are no winners here. the media keeps asking, was it worth it? my answer is that it's always it to do the right thing. gwen: we look at the deal that global calamity and why withuld break down again chuck babington of the associated press, dan balz of the "washington post," jackie times,"f the "new york news.ff zeleny of abc >> award-winning reporting and as itis, covering history happens. capital, our nation's this is "washington week" with gwen ifill. fororate funding "washington week" is provided by -- went and asked people a simple question, how old is the known?person you've we gave people a sticker and had them show us. us haveed a lot of known someone who lived well into their 90's and that's a thing but even though we're livin
gwen: the debt ceiling is raised. some republicans and some democrats are actually talking one another. >> we're going to find the two -- the common ground between that we both can vote on and that's our goal. gwen: but has the latest crisis permanentlyton broken? >> let's be clear. there are no winners here. the media keeps asking, was it worth it? my answer is that it's always it to do the right thing. gwen: we look at the deal that global calamity and why withuld break down again...
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Jan 6, 2011
01/11
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the debt ceiling? >> it is an interesting group of people. they are -- generalizing about the freshmen, they are more impressive than one would think. they are experienced business people, experienced legislators and they are serious people, but they are seriously committed, they believe they were sent here to get government under control and they mean to do it, and they really don't have long-term ambitions here, at least right now. i spoke to an economy list who was giving the freshmen the orientation session and they said we are going to cut government by, you know, x, an he said well let me show you the things you probably don't want to touch, medicare, medicaid, social security and they were startled a little and they said, okay let's go to work. let's do it. and he said are you really going to cut this, this, an this and they said yes, we are going to do it and maybe that's only brave talk right now but i think they are a more committed group than even the class of '94, '95. >> rose: and the oper
the debt ceiling? >> it is an interesting group of people. they are -- generalizing about the freshmen, they are more impressive than one would think. they are experienced business people, experienced legislators and they are serious people, but they are seriously committed, they believe they were sent here to get government under control and they mean to do it, and they really don't have long-term ambitions here, at least right now. i spoke to an economy list who was giving the freshmen...
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May 31, 2011
05/11
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will have to be raised. >> we also believe quite strongly that we have to raise the debt ceiling. there is no option to doing that. and that that will happen. because the economic impacts of not voting to raise the debt ceiling would be calamitous. >> woodruff: we now head to the other end of pennsylvania avenue where we are joined by leading members from each party to tell us what's behind tonight's vote. representative peter roskam of illinois is the chief deputy republican whip and sits on the house ways and means committee. and assistant democratic leader james clyburn of south carolina. he is a member of the bipartisan deficit group led by vice president biden. gentlemen, thank you both for being with us. >> thank you for having us. >> thank you. >> woodruff: congressman ros kum, do you first. almost all the congress watchers we've been talking to say this is a purely symbolic vote with no real substantive meaning to it. >> it's very substantive in that it's a request of the president of the united states. uts one that he has affirmed over and over and over again and that is
will have to be raised. >> we also believe quite strongly that we have to raise the debt ceiling. there is no option to doing that. and that that will happen. because the economic impacts of not voting to raise the debt ceiling would be calamitous. >> woodruff: we now head to the other end of pennsylvania avenue where we are joined by leading members from each party to tell us what's behind tonight's vote. representative peter roskam of illinois is the chief deputy republican whip...
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Jul 3, 2011
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if the debt ceiling is not raised by august 2nd, in just one month, the treasury department says for the first time in american history the government will not have enough money to meet all its obligations. the administration wants congress to raise the debt ceiling so the government can borrow more to pay those bills. but many members of congress say they want, first, a believable long-term plan to reduce the deficit. so far, there's no agreement on such a plan, so the debt limit remains, and so does the countdown to default. all over washington, from congress to the white house, among the "k" street lobbies, at the think tanks and at scores of conferences and panels, experts are trying to solve the problem. one experienced voice has been that of retired republican senator alan simpson of wyoming. he was the co-chair of last year's special presidential commission on the debt. >> if we don't get a plan out of this by august 2nd, then hold on tight. >> and "hold on tight" implies what? >> implies inflation. it implies that ñeople who are going to loan us money want more interest firs
if the debt ceiling is not raised by august 2nd, in just one month, the treasury department says for the first time in american history the government will not have enough money to meet all its obligations. the administration wants congress to raise the debt ceiling so the government can borrow more to pay those bills. but many members of congress say they want, first, a believable long-term plan to reduce the deficit. so far, there's no agreement on such a plan, so the debt limit remains, and...
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Aug 2, 2011
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this will lower the debt -- raise the debt ceiling by $2.40 trillion. this is a victory for republicans. they turned what was a routine vote into a crisis by insisting there would be no more borrowing without cutting back. >> this is a welcome change in behavior. i'd gladly support it. >> make no mistake, this is a change in behavior, from spend, spend, spend, to cut, cut, cut. >> now the democratic reaction. >> to be frank, almost everything else about this deal sphinx. it stinks to high heaven -- stinks. it stinks to high heaven. >> i drink a weak economy makes it hard for people to get excited -- i think a weak economy makes it hard for people to get excited about this president. >> was started as a series of local protests -- what started as a series of local protests has become a full-fledged wing of the republican party, insuring their main demand, a dramatic reduction in government spending, rocket did to the top of the republican agenda -- ensuring their main demand, a dramatic reduction in government spending, rocketed to the top of the republi
this will lower the debt -- raise the debt ceiling by $2.40 trillion. this is a victory for republicans. they turned what was a routine vote into a crisis by insisting there would be no more borrowing without cutting back. >> this is a welcome change in behavior. i'd gladly support it. >> make no mistake, this is a change in behavior, from spend, spend, spend, to cut, cut, cut. >> now the democratic reaction. >> to be frank, almost everything else about this deal sphinx....
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Jun 29, 2011
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." >> unless congress gets its act together to raise the debt ceiling, the u.s. will no longer be able to pay all its bills. choosing whom to stiff will be interesting. do we cut off military salaries? food stamps? social security? the people least likely to get stiffed are probably investors in u.s. bonds and bills. that's because of what could happen if the nation defaults on its debts. think of it as missing a credit card payment, with really big penalties. the u.s. now has what amounts to the best credit card deal in the world. we get to borrow staggering sums of money and pay staggeringly little interest. if we default, that privilege will be gone forever. the treasury will have to pay much higher interest rates. so will you. thing is, that privilege helped bring on the financial crisis. it was so easy for americans to borrow money that we borrowed too much. long run, we could probably use more discipline from our lenders. just not now. not like this. i'm justin fox. >> tom: the latest on those talks, senator lautenberg says the u.s. senate will change its s
." >> unless congress gets its act together to raise the debt ceiling, the u.s. will no longer be able to pay all its bills. choosing whom to stiff will be interesting. do we cut off military salaries? food stamps? social security? the people least likely to get stiffed are probably investors in u.s. bonds and bills. that's because of what could happen if the nation defaults on its debts. think of it as missing a credit card payment, with really big penalties. the u.s. now has what...
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Jan 22, 2013
01/13
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at home. >> if you don't raise the debt ceiling now, or if you postpone this confrontation, if you say every 60, 90, or 100 days, we're going to again have the same kind of conversation about the debt ceiling, you will continue to have this sort of spike in policy uncertainty. you will continue to undermine the private sector. you will continue to delay investment and to reduce employment relative to what it would be otherwise. >> reporter: the debt ceiling extension would allow the treasury to pay the nation's bills through at least may 19. darren gersh, "n.b.r.," washington >> tom: the u.s. housing market had a quiet end to its best year since 2007. sales of existing homes fell unexpectedly in december by 1% down to a 4.94 million annual rate. analysts note the drop in sales is not entirely bad news because there were fewer homes on the market. inventories are at their lowest level in seven and a half years. sales were up in the northeast and western u.s. while they fell in the midwest and south. for the entire year, existing home sales saw their best year since 2007. >> tom: julia c
at home. >> if you don't raise the debt ceiling now, or if you postpone this confrontation, if you say every 60, 90, or 100 days, we're going to again have the same kind of conversation about the debt ceiling, you will continue to have this sort of spike in policy uncertainty. you will continue to undermine the private sector. you will continue to delay investment and to reduce employment relative to what it would be otherwise. >> reporter: the debt ceiling extension would allow the...
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Oct 8, 2013
10/13
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the debt ceiling. it faced a likely republican filibuster. >> woodruff: the impasse in washington did a number on the stock market again today. the dow jones industrial average dropped another 159 points to close at 14,776. the nasdaq fell 75 points to close below 3695. in other news, the supreme court took on a major new case on campaign financing. arguments focused on whether to throw out the limits on contributions by individuals. in 2010, the high court threw out limits on independent spending by corporations and labor unions. we'll have more on this story, right after the news summary. the federal government's new health insurance web site had to be taken down again overnight, one week after it went live. glitches have plagued the online enrollment system for uninsured americans. the obama administration has declined to release any numbers on how many people have managed to sign up. there was word today that power surges have repeatedly damaged a massive new data storage facility for the national
the debt ceiling. it faced a likely republican filibuster. >> woodruff: the impasse in washington did a number on the stock market again today. the dow jones industrial average dropped another 159 points to close at 14,776. the nasdaq fell 75 points to close below 3695. in other news, the supreme court took on a major new case on campaign financing. arguments focused on whether to throw out the limits on contributions by individuals. in 2010, the high court threw out limits on independent...
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Jun 9, 2011
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as politicians look for ways to cut debt and raise the debt ceiling, the public are left wondering what happened to that elusive recovery? thank you for joining me, rana. what did happen to the recoverive? about this time last year we were hearing it was going to be good news, unemployment was going to get back on tracking and now things really do seem to have stalled. >> if you look at unemployment and housing there never was much of a recovery. unemployment never dipped below 9%. the housing market has been in the doldrums for some time. and they're keeping house prices compressed, and most americans keep most of their wealth in houses. >> yet we keep hearing about american companies doing terribly well and making big profits. >> yes. this is a fundamental disconnect in our economy. american companies are flush, they've got trillion yons on their blals sheets. but they don't want to spend it here, ne -- they want to put it in china and brazil, faster growing markets. >> one thing people have admired is that americans are so entrepreneural. they say we have facebook, twitter, and the g
as politicians look for ways to cut debt and raise the debt ceiling, the public are left wondering what happened to that elusive recovery? thank you for joining me, rana. what did happen to the recoverive? about this time last year we were hearing it was going to be good news, unemployment was going to get back on tracking and now things really do seem to have stalled. >> if you look at unemployment and housing there never was much of a recovery. unemployment never dipped below 9%. the...
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will raise the debt ceiling in august and then get its massive deficits under more control. darren gersh, "nightly business report," washington. >> tom: taming inflation is a big challenge for china, and it's at the top of that government's agenda. doing so means cooling a red-hot property market and bringing down the prices increases of lots of everyday items. and, as nick mackie reports, that can be a tall order. >> in chongqing's backwater county of pengshui, some thousand miles from beijing, there are few obvious signs of an overheating economy-- that is, until you speak with the likes of noodle trader xu lunping. >> ( translated ): everything has gone up. we used to pay 93 yuan for a gas canister, now it's 100. meat prices have gone up also. all food has gone up in price including cooking oil, rice-- we used to pay 1.8 to 1.9 yuan for half a kilo, now it's more than two yuan for okay-quality rice. >> reporter: january's consumer price index rose 4.9% year-on- year-- food alone much higher. inflation is china's fall-out from its $4 trillion stimulus package, which cushio
will raise the debt ceiling in august and then get its massive deficits under more control. darren gersh, "nightly business report," washington. >> tom: taming inflation is a big challenge for china, and it's at the top of that government's agenda. doing so means cooling a red-hot property market and bringing down the prices increases of lots of everyday items. and, as nick mackie reports, that can be a tall order. >> in chongqing's backwater county of pengshui, some...
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Jan 16, 2013
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government to avoid defaulting on its debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to default. we're going to default. we're going to default." it's just not true. >> reporter: but talk like that scares many budget analysts in washington. they argue markets will see a failure by the unit ed states to pay any of its bills as a threat it could one day stop paying some or all of its bills, including interest on its debt. >> if we pay the chinese the interest we owe them on their sovereign debt holdings, on time and in full, but we don't pay social security recipients or armed services personnel their salaries, is that a default? well, of course it is. >> reporter: a recent inspector general's report found the treasury doesn't have the computer systems in prioritize some payments over others. so if the treasury runs short of cash, it would most likely del
government to avoid defaulting on its debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to default. we're going to default. we're going to default." it's just not true. >> reporter: but talk like that scares many budget analysts in washington....
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Apr 8, 2011
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obviously if the debt ceiling were not raised we are in a sort of armageddon territory because we know there's a huge fiscal deficit, we know the u.s. government has to borrow and since you would have to close down or it would actually is to default. that's unimaginable. so i take it for granted in the end the pressure on the politician to do a deal from finance, from wall street, from the whole business community, from the world will lead to a solution. this is all political. this is surely political theater. >> rose: it's easy to say government shutdown but when you look at the reality of it, it affects everybody's lives, the lives of their children. >> that's why it can't happen. not for long. i mean, it's surely... it's important, of course, for somebody coming from outside the u.s., this is all inconceivable. it couldn't happen. it is political theater but really you cannot close down the government for any lengthy time and you cannot allow your government-- in this case the most important issue of financial securities in the world to be unable to continue to issue them. so this i
obviously if the debt ceiling were not raised we are in a sort of armageddon territory because we know there's a huge fiscal deficit, we know the u.s. government has to borrow and since you would have to close down or it would actually is to default. that's unimaginable. so i take it for granted in the end the pressure on the politician to do a deal from finance, from wall street, from the whole business community, from the world will lead to a solution. this is all political. this is surely...
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Oct 31, 2012
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but economists expect negotiations over raising the debt ceiling, will get tied up in the fiscal cliff debate, which is expected to take center stage in washington, after next week's election. >> tom: tomorrow on "n.b.r." its the nation's financial capital, we look at the challenges and cost of getting new york city moving again. >> susie: all of this is happening on hallowee. that's nightly business report for wednesday, october 31, halloween, have a good and safe evening everyone. >> tom: goodnight susie, we'll see you online at: www.nbr.com and back here tomorrow night. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> join us anytime at nbr.com. there, you'll find full episodes of the program, complete show transcripts and all the market stats. also follows us on our facebook page at bizrpt. and on twitter @bizrpt. captioning sponsored by mac/l
but economists expect negotiations over raising the debt ceiling, will get tied up in the fiscal cliff debate, which is expected to take center stage in washington, after next week's election. >> tom: tomorrow on "n.b.r." its the nation's financial capital, we look at the challenges and cost of getting new york city moving again. >> susie: all of this is happening on hallowee. that's nightly business report for wednesday, october 31, halloween, have a good and safe evening...
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Oct 21, 2013
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if we actually got the situation, the debt ceiling were not raised, the president had to make his decision on what to do, if he were, all the options are very bad, i think the least bad is to continue borrowing. the second least bad is just to cut the domestic spending, but that creates a huge recession. but the worst is actually to default on their debt. so, they're all terrible. if this then ends up in a quasi-judicial process, an impeachment or something of this kind when we're just sort of getting out of the big post crisis malaise, yes, i think it would, could be potentially catastrophic. one never knows, but it would certainly be very bad for the reputation of the united states. >> the last time the united states played so fast and loose with the debt ceiling in 2011, standard & poors downgraded our debt rating. was there any, has there been any lasting consequence of that downgrading? >> no. i think, i thought at the time that there probably wouldn't be because actually everybody continues to be confident that in the end the us will serve its, service its debt and meet its debt obli
if we actually got the situation, the debt ceiling were not raised, the president had to make his decision on what to do, if he were, all the options are very bad, i think the least bad is to continue borrowing. the second least bad is just to cut the domestic spending, but that creates a huge recession. but the worst is actually to default on their debt. so, they're all terrible. if this then ends up in a quasi-judicial process, an impeachment or something of this kind when we're just sort of...
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Jul 18, 2011
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we're less than a week away from president obama's deadline for raising the debt ceiling. tom, today the president said he and republican lawmakers were "making progress" after a series of weekend meetings. >> tom: susie, with the clock ticking, these are the latest developments. as we know, the leader of the senate says the chamber will meet every day until congress sends the president legislation to make sure the u.s. government does not default on its obligations. the house is set to pass a budget cut, cap and balance bill tomorrow. it includes a proposed budget amendment to the constitution, but credit rating agency moody's says the u.s. would be better off if the debt ceiling was eliminated entirely. >> susie: the debt showdown wasn't the only dominant topic in the nation's capitol today. the president nominated richard cordray to be the nation's top consumer advocate. darren gersh has details. >> reporter: the president vowed to fight back against what he called an army of lobbyists trying to weaken the new consumer financial protection bureau. that agency was create
we're less than a week away from president obama's deadline for raising the debt ceiling. tom, today the president said he and republican lawmakers were "making progress" after a series of weekend meetings. >> tom: susie, with the clock ticking, these are the latest developments. as we know, the leader of the senate says the chamber will meet every day until congress sends the president legislation to make sure the u.s. government does not default on its obligations. the house...
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Jun 29, 2011
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he said if raising the debt ceiling is urgent and urge republicans to break the deficit. the president pressed on the mission in afghanistan. he said he is now ready to declare victory. certainly victory seems a long way off right now in kabul right now. this raises fresh concerns about turning over security. >> at the taliban or their allies showing they can strike at the heart of afghan power. the hotel was packed with government officials for a conference on transition to afghan security control. the fighting continued throughout the night. in the end, a nato had attack helicopter was needed to kill three of the gunmen. the afghan government still needs a lot of help. among the dead, waiters, musicians performing at a wedding, a senior judge, and police. many internationals were trapped inside the hotel. >> there was some huge blasts. five or six blast. >> this is a part of the taliban's activities in afghanistan. this is against the provision of the momentum that has been gathered by the forces to make sure highly publicized attacks. you should not be fooled by that.
he said if raising the debt ceiling is urgent and urge republicans to break the deficit. the president pressed on the mission in afghanistan. he said he is now ready to declare victory. certainly victory seems a long way off right now in kabul right now. this raises fresh concerns about turning over security. >> at the taliban or their allies showing they can strike at the heart of afghan power. the hotel was packed with government officials for a conference on transition to afghan...
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Jul 24, 2012
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these criticisms you do hear within the party with respect to the negotiations on the debt ceiling and raised questions about that, that he should have been prepared to stair into the abyss, that question comes up again, is the president this time saying to the republicans, don't think that i am not prepared to -- i am not froapd extend this deadline beyond january 1st? i am not going to offer some type of extension so we can work on it. >> that's right. >> rose: push comes to shove on january 1st. >> let me again slain what the president is trying to. do he is trying to balance two things what is important and necessary and fundamental to do for this economy in the short run, so that we heal the damage cause bed at this crisis, that is very important. >> rose: that's the growth factor. >> and what he is trying to do is make sure we break this basic stalemate in washington an get both sides to come together and put in place that restore fiscal sustainability, because even know that is not affecting the economy now in the long run if you leave it unaddressed it could hurt the strength o
these criticisms you do hear within the party with respect to the negotiations on the debt ceiling and raised questions about that, that he should have been prepared to stair into the abyss, that question comes up again, is the president this time saying to the republicans, don't think that i am not prepared to -- i am not froapd extend this deadline beyond january 1st? i am not going to offer some type of extension so we can work on it. >> that's right. >> rose: push comes to shove...
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president obama will hold another round of talk with senate leaders on raising the debt ceiling. both parties remain divided over taxes and entitlement cuts. i'm very pleased to have dr. tom coburn on this program. welcome. >> thank you, charlie. good to be with you. >> tell me where y think it is, this negotiation now that the president has evolved directly and not just leaving it to vice president biden. >> well, i think it all depends on whether or not we approach the very real problems that our country's facing in terms of our debt and our fiscal situation, whether or not you're approach that in a meaningful way that doesn't just pass the test of congress, it passes the test that says the people that are interested in loaning money for sovereign debt think we'vedone enough to deserve their confidence. >> you have been unilaterally said that you are opposed to some reducing some of the reductions in corporations and others get, in order and help on the revenue side, correct? >> well, yes. but my motivation isn't just revenue, in fact you he a lower flatter curve and a more pre
president obama will hold another round of talk with senate leaders on raising the debt ceiling. both parties remain divided over taxes and entitlement cuts. i'm very pleased to have dr. tom coburn on this program. welcome. >> thank you, charlie. good to be with you. >> tell me where y think it is, this negotiation now that the president has evolved directly and not just leaving it to vice president biden. >> well, i think it all depends on whether or not we approach the very...
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the debt ceiling. use it as a nonnegotiable terrorist demand. >> lehrer: nonnegotiable-- >> that's essentially what was done. if you put a peppy-- >> paul krut man of the "new york times" this morning called it extortion. >> if you put a penny of revenue a penny of revenue, if you even suggest a registered nurse in an emergency room and a new york firefighter shouldn't pay taxes twice the rate of a hedge fund manager, we leave. we're not going to be a party to that. that's that's basically where they were. but more important than that to use this vehicle, to think this that is only a one-time precedent and that next time that there's a democratic congress and a republican president that this isn't going to be used again vengefully, you talk about the poisoning of the washington well. this does it in spades. >> lehrer: do you agree, the well is poisoned beyond-- >> i think it helps poison the well. this is a reflection of the 2010 elections where a lot of ideological momentum and they were not going to
the debt ceiling. use it as a nonnegotiable terrorist demand. >> lehrer: nonnegotiable-- >> that's essentially what was done. if you put a peppy-- >> paul krut man of the "new york times" this morning called it extortion. >> if you put a penny of revenue a penny of revenue, if you even suggest a registered nurse in an emergency room and a new york firefighter shouldn't pay taxes twice the rate of a hedge fund manager, we leave. we're not going to be a party to...
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i raised the notion of this debt ceiling legislation passed before congress took its recess. we know for the next 10 years, there are going to be massive cuts and some are two programs that benefit children. where are these -- how are children going to be impacted by this legislation? >> we think the most important thing is as the congress struggles with where to make cuts and how to bring the country's revenues in line with expenses, we have got to make some smart choices. there is tough choices but we have to make them smart choices and we think the way to do that is to keep in mind what is most important and we think investing in children is one of the most important things the country can do. what is most cost-effective? third, what is likely to contribute to the future and the legacy for today's policymakers? that means as we look at each individual program, each dollar that we spend, each dollar that we try to raise, are weak investing as wisely as we can into the future? for us that means investing in the economic success of families today because we know growing up in
i raised the notion of this debt ceiling legislation passed before congress took its recess. we know for the next 10 years, there are going to be massive cuts and some are two programs that benefit children. where are these -- how are children going to be impacted by this legislation? >> we think the most important thing is as the congress struggles with where to make cuts and how to bring the country's revenues in line with expenses, we have got to make some smart choices. there is tough...
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Jan 3, 2013
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president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. and, the fact of the problem of $2 trillion solutions to $60 trillion problems, you see the occasion of the lack of problem and resolve of the political class here in washington. >> reporter: some also worry the down-to-the-wire theatrics of these fiscal debates in washington will overshadow other issues that need to be addressed, like education and immigration reform. issues that could be held hostage until the spending fights are over. sylvia hall, "n.b.r.," washington. >> tom: other changes could soon be in store for washington: tre
president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of...
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Jul 19, 2011
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ceiling is is not raised. we now have a majority of americans who express real concern. that's one number that concerns house republicans. the other number is the republicans are getting the brunt of the blame. 58% of republicans in a new abc news/"washington post" poll out tonight say their own party has been too resistant to find a deal. that is having some impact on these house republicans. that's why you saw president obama out there embrace this bipartisan plan that emerges because he is wants to isolate those house republicans and start picking them off to support a plan as they realize that the public is not standing with them. >> woodruff: what do we look for next? quickly. >> i think we now look to see this gang of six plan moving to legislative language because this is where the cliche is true. the devil is in the details. >> woodruff: and the clock is ticking. >> the clock is ticking. one house republican aide said to me today, the good news is we have a good vehicle to consider because nobody loves
ceiling is is not raised. we now have a majority of americans who express real concern. that's one number that concerns house republicans. the other number is the republicans are getting the brunt of the blame. 58% of republicans in a new abc news/"washington post" poll out tonight say their own party has been too resistant to find a deal. that is having some impact on these house republicans. that's why you saw president obama out there embrace this bipartisan plan that emerges...
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Jul 26, 2011
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do not raise the debt ceiling. it has never happened before. presumably, it is very bad. this is for the long-term fiscal health of the country. >> politicians here will not be likely forgiven if they push the global economy over the edge. bbc news, new york. >> for more on whether there is any hope for compromise, i am joined from capitol hill by a congressman of california and a republican representative from arizona. thank you for joining us, gentleman. let me start with you. how far are you and your party prepared to push this? when you put the country into default next week if you cannot get what you want? >> none of us wanted defaults, and i am not one who believes we can go on indefinitely and simply we prioritize our debt. we should do it soon, but we have got to do it with a credible plan to deal with our debt and deficit. we need to worry not just about the fog but a downgrading -- worry not just about the fault but a downgrading of our debt. there is a credible plan to deal with our debt that we do not h
do not raise the debt ceiling. it has never happened before. presumably, it is very bad. this is for the long-term fiscal health of the country. >> politicians here will not be likely forgiven if they push the global economy over the edge. bbc news, new york. >> for more on whether there is any hope for compromise, i am joined from capitol hill by a congressman of california and a republican representative from arizona. thank you for joining us, gentleman. let me start with you. how...
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an administration spokesperson said a deal to raise the debt ceiling will likely need more sessions. still ahead, from buying a car to buying a house. tonight's "money file" on why your credit score is key to getting a good deal. >> susie: japan is talking stress tests. it's considering stress tests for its nuclear facilities to ease the public's fears about nuclear power. thousands of citizens have staged anti-nuclear demonstrations since the tsunami and earthquake in march. they're concerned about the safety of japan's fukushima daiichi nuclear plant, which is still emitting low-level radiation. lucy craft reports from tokyo. >> reporter: darkened offices and aloha shirts-- japan is pulling out the stops this summer to cope with a drastic power shortage triggered by the nuclear accident. >> ( translated ): we're not forcing this on people. what we're saying is, "change your lifestyle, and work habits, so that you can keep thermostats set at 80 degrees." >> reporter: while conservative japanese businessmen have been less than enthusiastic about swapping their suits for tee- shirts,
an administration spokesperson said a deal to raise the debt ceiling will likely need more sessions. still ahead, from buying a car to buying a house. tonight's "money file" on why your credit score is key to getting a good deal. >> susie: japan is talking stress tests. it's considering stress tests for its nuclear facilities to ease the public's fears about nuclear power. thousands of citizens have staged anti-nuclear demonstrations since the tsunami and earthquake in march....
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Oct 8, 2013
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failure to raise the debt ceiling could have repercussions around the globe. >> for more on the global implications of this fight, i spoke with a former representative of the u.s. on the executive order the international monetary fund. we saw that the imf is warning that a default could turn the global recovery into a recession. how likely is that default? >> first of all, they did not say it could turn it into a recession. they said it be much worse. the imf language was quite inumatic -- quite dramatic its threat that if this close over a threat, it's a global economic phenomenon no one wants to think about. i guess the point is the fact that we are talking about it means it is a heck of a lot more likely than it ought to be. until this week, we were not seriously talking about it. the assumption was saner heads would prevail, and the full scope of what is at risk with c been to the consciousness of all the decision-makers, and we would never get to this point. i still think it is less than likely that we will end up going into a default scenario, but it is certainly more likely than
failure to raise the debt ceiling could have repercussions around the globe. >> for more on the global implications of this fight, i spoke with a former representative of the u.s. on the executive order the international monetary fund. we saw that the imf is warning that a default could turn the global recovery into a recession. how likely is that default? >> first of all, they did not say it could turn it into a recession. they said it be much worse. the imf language was quite...
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debt ceiling. i believe you've said you'd vote against that. my question is, even if it means shutting down the federal government, which is what's happened in the past. when congress hasn't supported that. >> i would vote against raising the national debt ceiling. again this is about mortgaging the future of unborn generations of americans. it's a form of taxation without representation. i don't think we can do that. now i think there are alternatives out there that we could use in order to avoid a government shutdown. i don't want a government shutdown. i don't think anyone does. i'd like to see some form of continuing resolutions that would allow spending to continue at current levels, but if we had to do that in a way that enabled us to avoid having to raise the national debt ceiling we might have to consider across the board cuts being built into the automatic continuing resolution. >> woodruff: but again.... >> i would, however, vote against raising the national debt ceiling. >> woodruff: but
debt ceiling. i believe you've said you'd vote against that. my question is, even if it means shutting down the federal government, which is what's happened in the past. when congress hasn't supported that. >> i would vote against raising the national debt ceiling. again this is about mortgaging the future of unborn generations of americans. it's a form of taxation without representation. i don't think we can do that. now i think there are alternatives out there that we could use in order...
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the debt ceiling unless they ate at a cap -- they have a cap on federal spending that is 7% below what we are spending now. the ins d -- they insist on a constitutional amendment to cut deficit spending by half next year, all of which is impossible. every serious person who is look at this knows there has to be revenue enhancement, taxes raised as well as spending cut. the idea of doing it with spending cuts alone is just irrational. >> the democrats have not even produced a budget for 2012. what is their budget? >> no, the case is there -- >> where are their numbers and where is the plan? >> it is right there -- >> where? >> look, the president and the dealings with the joe biden and the senators and congressmen, is there. $400 billion in revenues, $2 trillion in cuts. that is 1/5, and republicans walk away, saying we cannot touch it. >> everybody knows the republican leadership is afraid of its own members. they think they cannot get anything passed and in fact that they might be dethroned if they have some sort of tax increase. the democrats are just, frankly, demagogues about medic
the debt ceiling unless they ate at a cap -- they have a cap on federal spending that is 7% below what we are spending now. the ins d -- they insist on a constitutional amendment to cut deficit spending by half next year, all of which is impossible. every serious person who is look at this knows there has to be revenue enhancement, taxes raised as well as spending cut. the idea of doing it with spending cuts alone is just irrational. >> the democrats have not even produced a budget for...
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. >> reporter: but the wild market ride, combined with the political drama over raising the debt ceiling, could have a greater impact abroad. investors around the world have new doubts about u.s. economic and political leadership, says economist fred bergsten. >> i think many of my foreign friends are a little naive in giving the u.s. the benefit of the doubt and giving us a pretty long leash. all of a sudden, they were shocked to see how dysfunctional the system is and how difficult it was to come up with anything concrete. >> reporter: and once lost, confidence is not easily regained. consumers won't be in a better mood until they see proof there will be more jobs. and investors around the world will need to see progress in washington before they are willing to once again give the united states the benefit of the doubt. darren gersh, "nightly business report," washington. >> susie: our guest tonight says there are no instant solutions to this financial crisis. he's mohamed el-erian, c.e.o. and co-c.i.o. of pimco, the world's largest bond fund. >> hi susie. >> still picking up with jare
. >> reporter: but the wild market ride, combined with the political drama over raising the debt ceiling, could have a greater impact abroad. investors around the world have new doubts about u.s. economic and political leadership, says economist fred bergsten. >> i think many of my foreign friends are a little naive in giving the u.s. the benefit of the doubt and giving us a pretty long leash. all of a sudden, they were shocked to see how dysfunctional the system is and how...
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the compromises that we made to raise the debt ceiling over a year ago, they are coming back to haunt us. congress knew when these measures were passed that there would be a day of reckoning and it is here. dodge the u.s. isn't the only country dealing with economic challenges, china's financial growth is the envy of the world. the outgoing leaders have warned that unless the challenge of corruption is addressed, the consequences could be dire. the party is considering to declare all their financial assets in response to public outrage. >> from outside, it looks solid as a rock. inside, the czech communist party might be corroding. the absolute power over 1 billion people, riddled with corruption. >> we have elevated the fight against corruption to a life- and-death issue for the party. we believe we can control it. >> spy on party members using web cameras and getting them to study to make them more virtuous. what has pushed the issue is the downfall of a contender for the party's new leadership, accused of massive corruption and arrested after his wife admitted killing the british b
the compromises that we made to raise the debt ceiling over a year ago, they are coming back to haunt us. congress knew when these measures were passed that there would be a day of reckoning and it is here. dodge the u.s. isn't the only country dealing with economic challenges, china's financial growth is the envy of the world. the outgoing leaders have warned that unless the challenge of corruption is addressed, the consequences could be dire. the party is considering to declare all their...
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the debt ceiling unless they ate at a cap -- they have a cap on federal spending that is 7% below what we are spending now. the ins d -- they insist on a constitutional amendment to cut deficit spending by half next year, all of which is impossible. every serious person who is look at this knows there has to be revenue enhancement, taxes raised as well as spending cut. the idea of doing it with spending cuts alone is just irrational. >> the democrats have not even produced a budget for 2012. what is their budget? >> no, the case is there -- >> where are their numbers and where is the plan? >> it is right there -- >> where? >> look, the president and the dealings with the joe biden and the senators and congressmen, is there. $400 billion in revenues, $2 trillion in cuts. that is 1/5, and republicans walk away, saying we cannot touch it. >> everybody knows the republican leadership is afraid of its own members. they think they cannot get anything passed and in fact that they might be dethroned if they have some sort of tax increase. the democrats are just, frankly, demagogues about medic
the debt ceiling unless they ate at a cap -- they have a cap on federal spending that is 7% below what we are spending now. the ins d -- they insist on a constitutional amendment to cut deficit spending by half next year, all of which is impossible. every serious person who is look at this knows there has to be revenue enhancement, taxes raised as well as spending cut. the idea of doing it with spending cuts alone is just irrational. >> the democrats have not even produced a budget for...
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Jun 28, 2011
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all that raising the debt ceiling does is indicate we're going to pay our bills. we already accrued. >> sreenivasan: the treasury department has said the government will hit the debt ceiling and risk default by early august. fire crews in northern new mexico struggled today against an aggressive wildfire near los alamos. the blaze has spread across 93 square miles in the mountains above the town, and more than 12,000 people have been evacuated. but the director of the los alamos nuclear weapons laboratory said the facility remained secure. >> we have analyzed all of our nuclear facilities. we've analyzed them for fire. we've analyzed them for wild land fire. we've mitigated those risks. all of them have mitigation. and i'm confident, given the team that we have, that we can protect those facilities. >> sreenivasan: the wildfire spawned a spot fire on the los alamos lab property yesterday, but it was quickly contained. some 34,000 japanese children will be given radiation meters in order to monitor the impacts of long-term exposure. the announcement today affects c
all that raising the debt ceiling does is indicate we're going to pay our bills. we already accrued. >> sreenivasan: the treasury department has said the government will hit the debt ceiling and risk default by early august. fire crews in northern new mexico struggled today against an aggressive wildfire near los alamos. the blaze has spread across 93 square miles in the mountains above the town, and more than 12,000 people have been evacuated. but the director of the los alamos nuclear...